Paloma Partners Management Co Invests $1.90 Million in Boston Scientific Co. (BSX) Stock

Paloma Partners Management Co acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 76,782 shares of the medical equipment provider’s stock, valued at approximately $1,903,000.

Several other large investors have also modified their holdings of BSX. Raymond James Financial Services Advisors Inc. increased its position in shares of Boston Scientific by 80.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 80,440 shares of the medical equipment provider’s stock worth $2,346,000 after purchasing an additional 35,944 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Boston Scientific by 329.1% during the 3rd quarter. Victory Capital Management Inc. now owns 101,266 shares of the medical equipment provider’s stock worth $2,954,000 after purchasing an additional 77,666 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Boston Scientific by 209.3% during the 3rd quarter. Bessemer Group Inc. now owns 7,983 shares of the medical equipment provider’s stock worth $233,000 after purchasing an additional 5,402 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Boston Scientific by 8.7% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 107,466 shares of the medical equipment provider’s stock worth $3,135,000 after purchasing an additional 8,598 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC increased its position in shares of Boston Scientific by 12.1% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 27,856 shares of the medical equipment provider’s stock worth $813,000 after purchasing an additional 3,013 shares during the last quarter. 91.04% of the stock is owned by hedge funds and other institutional investors.

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A number of equities analysts recently commented on BSX shares. Zacks Investment Research cut Boston Scientific from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. BMO Capital Markets restated a “buy” rating and set a $32.00 target price on shares of Boston Scientific in a report on Tuesday, December 12th. Needham & Company LLC upgraded Boston Scientific from a “buy” rating to a “strong-buy” rating and raised their target price for the company from $25.04 to $32.00 in a report on Friday, December 8th. Royal Bank of Canada upgraded Boston Scientific from an “outperform” rating to a “top pick” rating in a report on Friday, January 5th. Finally, Piper Jaffray started coverage on Boston Scientific in a report on Friday, February 23rd. They set an “overweight” rating and a $31.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $31.45.

In related news, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $27.22, for a total transaction of $136,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel J. Brennan sold 60,209 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $27.87, for a total value of $1,678,024.83. Following the sale, the chief financial officer now owns 299,644 shares of the company’s stock, valued at approximately $8,351,078.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,818 shares of company stock valued at $6,879,888. 0.74% of the stock is owned by company insiders.

Shares of BSX opened at $27.35 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.68 and a quick ratio of 0.49. The stock has a market capitalization of $38,140.03, a PE ratio of 21.71, a P/E/G ratio of 2.01 and a beta of 0.81. Boston Scientific Co. has a 1 year low of $24.31 and a 1 year high of $29.93.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Boston Scientific had a return on equity of 24.27% and a net margin of 1.15%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. sell-side analysts expect that Boston Scientific Co. will post 1.37 EPS for the current year.

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Boston Scientific Profile

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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